Andean Silver's Ambitious Geophysics Campaign at Cerro Bayo
ASL (ASL) Share Update December 2024 Monday 2nd
Andean Silver Launches Major Geophysics Campaign at Cerro Bayo
Andean Silver Limited has announced the commencement of a comprehensive geophysical survey at the Cerro Bayo Silver-Gold Project in Chile, aiming to enhance exploration and unlock significant mineral potential.
Instant Summary:
- Over 200 line kilometers of Controlled Source Audio Magnetotellurics (CSAMT) survey initiated.
- Focus on high-priority targets like Droughtmaster, Sinter Hill, and Mallines veins.
- First large-scale geophysics program at Cerro Bayo in over 15 years.
- Potential to expand mineralized field with new geological insights.
- Third drill rig mobilized to enhance drilling capacity.
Geophysical Campaign Details
Andean Silver Limited has embarked on an extensive geophysical survey covering over 200 line kilometers at its Cerro Bayo Silver-Gold Project in Chile. This survey, utilizing Controlled Source Audio Magnetotellurics (CSAMT), aims to identify and illuminate drilling targets within a 10km by 5km corridor, reaching depths of up to 300 meters.
The campaign targets several newly defined high-priority areas, including Droughtmaster, Sinter Hill, and Mallines veins. This marks the first time in over 15 years that such a large-scale geophysical effort has been undertaken at Cerro Bayo, employing modern techniques to enhance exploration outcomes.
Geological Insights
A recent geological review has expanded the understanding of the mineralized field at Cerro Bayo. A second intermediate sulphidation mineralization event has been identified, potentially increasing the grade and scale of targets across the project area. Historic drill intercepts have shown promising results, such as 8.4 meters at 248g/t Ag and 20.7% Pb at Los Domos.
High-grade surface rock chip samples have also been reported, including assays of 217g/t Ag and 8g/t Au. These findings underscore the project's potential to host significant polymetallic resources.
Drilling Program Expansion
In addition to the geophysical survey, Andean Silver is mobilizing a third drill rig to the site in December 2024. This will support the ongoing extensional drilling campaign within the Laguna Verde Mine Complex, including areas like Pegaso 7 and Cristal. The increased drilling capacity is expected to facilitate a resource update in Q1 2025.
The commencement of this extensive geophysical campaign is a significant step for Andean Silver, potentially leading to the discovery of new resources and enhancing the project's value. The identification of additional mineralization events and high-grade samples could positively influence the company's stock as investors anticipate increased resource estimates.
Investor Reaction:
Analysts are likely to view this announcement positively, recognizing the potential for substantial resource expansion. The use of modern geophysical techniques and the mobilization of additional drilling rigs demonstrate Andean Silver's commitment to advancing the Cerro Bayo project.
Conclusion:
Investors should keep a close eye on the results of the geophysical survey and subsequent drilling programs. These efforts could significantly impact Andean Silver's resource base and market valuation. The company's strategic approach to exploration and resource development will be key to unlocking Cerro Bayo's full potential.